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Plug Power jumps, Pfizer moves on weight loss drug: top movers

Yahoo Finance

Yahoo Finance Live’s Rachelle Akuffo breaks down the top trending tickers, including Plug Power announcing three deals in Europe and Pfizer’s weight loss drug.

Video transcript

RACHELLE AKUFFO: Plug Power is a trending ticker on Yahoo Finance, today up over 11%, almost 11 and 1/2 percent, that's after the announcement the company has three deals to supply electrolysers in Europe. The deals will allow for the first Industrial-scale green hydrogen to be used for glass manufacturing, aluminum recycling, and steel manufacturing. The news is boosting the stock, which hasn't seen much upside lately, with shares down over 30%, year to date.

And Pfizer stock is also moving today, up over 4%, as the company takes on the weight-loss drug market. According to results from a phase II clinical trial, Pfizer's drug causes a similar amount of weight loss to Novo Nordisk's Ozempic, only faster. Users lost about 10 pounds in 16 weeks, compared to Ozempic users, who lost an average of 9.9 pounds over 30 weeks. And it can also come in a pill form, taken twice a day, versus Ozempic's weekly injectable. Now, compared to other pharmas, Pfizer has underperformed, year to date. Perhaps this news, though, could turn things around.